Switching lenders/negative equity

E

elnino1978

Guest
Bit of advice required please?

We're due to finish our 2yr fixed rate of 4.75% with PTSB on 12th april. Have contacted them and they are offering us a 4.15 var or 5.25 2yr fixed.
Our situation now is that because our property value has dropped and we initally got 100% mortgage were now well over 92% ltv.
Are we now restriced to these rates being offered by our current lender?
I take it because were in negative equity no other lender will allow us switch due to ltv?

Any help would be appreciated...

Thanks
 
Unfortunately you are stuck with your current lender until your loan to value is less than 92%.
 
You should check to to see if the 4.15 is now reduced because of the cut in the ECB rate yesterday.
 
core123 said:
You should check to to see if the 4.15 is now reduced because of the cut in the ECB rate yesterday.
Click to expand...

Cheers yeah I checked and thankfully they have passed it on to existing customers.
 
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